389 Upper Mesa Road, Santa Monica, California 90402, Santa Monica, 90402 - 3 bed, 3 bath
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Santa Monica, California 90402
This Prime Development Asset represents a Strong Value Opportunity with a List Price of $3,100,000—positioned well below the $3,286,145 Fair Market Value by 5%. This valuation gap offers $186,145 in Instant Equity for buyers looking to capitalize on Panoramic Ocean and Canyon Views. Given the Condition Rating of 6, the property is a clear value-add play, benefiting from a Santa Monica address while utilizing the more streamlined Los Angeles Building and Safety jurisdiction. It is a premier acquisition for Developers or Visionary Owner-Users.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 389 Upper Mesa Road Subject | $2,995,000* List Price | 3 | 3 | 2,094 | $1,480 | - |
A 1015 San Vicente Boulevard Sold | $3,850,000 | 3 | 3 | 2,332 | $1,651 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1923 (101 years old) with no evidence of renovation. The listing description focuses on the property as a 'site to build on' with 'conceptual plans available,' and images show significant exterior deterioration, indicating the value is in the land and view rather than the existing structure.
The property boasts an exceptional vantage point with framed ocean and canyon views, including visible crashing waves, providing a rare and high-value backdrop for a luxury estate.
Benefiting from a prestigious Santa Monica address while falling under Los Angeles Building and Safety regulations, the site offers a more streamlined and desirable permitting process for development.
With conceptual plans already available and a generous 8,064 sqft lot, this property serves as a premier canvas for developers or end-users to create a custom architectural masterpiece.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =8064, other record lot size in square feet = 7543.
The existing 1923 structure is marketed primarily as a building site, implying that the current improvements likely require demolition or a total reconstruction, adding substantial cost to the project.
The perched hillside location, while offering great views, typically involves more complex and expensive foundation and structural engineering requirements compared to flat lots.
Perhaps the best view site to build on the Westside is this overlooked alternative to burned lots in the Palisades. Perched atop the coveted Santa Monica Canyon hillside, this extraordinary property offers an unrivaled opportunity for a one-of-a-kind ocean-view framed perfectly in the middle of the Canyon. See the waves crashing on the beach from what could be an amazing multi-story residence. Conceptual plans available for inspiration. Enjoy a Santa Monica address while falling under the more desirable Los Angeles building and safety. The photos cannot capture just how special this site is for what will no doubt be a masterpiece. Great for end-users and developers.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 3.0 | 4.0 | 48% |
| Square foot | 2,094 | 2,602 | 30% |
| Lot Size | 8,064 | 8,681 | 43% |
| Price | $3.00M | $5.08M | 11% |
| Price per sq ft | $1.4K | $1.9K | 26% |
| Built year | 1923 | 1940 | 7% |
| HOA | $0 | $0 | 50% |
| Days on market | 48 | 113 | 11% |
Jun 9, 2026
$2,995,000
$3,100,000
-3% Price Drop
Initial Listing
Apr 27, 2026
$3,100,000
Initial Listing
Dec 7, 2023
$3,150,000
Public Record
Dec 23, 2002
$853,000
Public Record